A 720 percent corporate coupon bond is callable in 10 years, Ask an Expert

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A 7.20 percent corporate coupon bond is callable in 10 years for a call premium of 1 year of coupon payments. Assuming a par value of $1,000, what is the price paid to the bondholder if the issuer calls the bond? (Round your answer to the nearest dollar amount. Omit the "tiny_mce_markerquot; sign in your response.)

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